Bet365 Pokies – It is with a heavy heart that Bet365 announces our immediate departure. Our gratitude to our Indian customers for their continued support over the years is immeasurable. We greatly appreciate your understanding during this transition.
When one chapter ends, a new one begins. We are happy to refer you to 7cric, an online bookmaker that we wholeheartedly support. Dive into their extensive betting offerings, experience a variety of casino games and sports betting, and enjoy the user-friendly interface of their mobile app.
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This decision was not made lightly. At Bet365, the trust and support of our Indian customers has always been of paramount importance. We are grateful for the experiences and interactions we have had with our clients over the years.
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We recognize the potential disruption this decision may cause and sincerely apologize for any inconvenience this may cause. Given the match in offers and prices between Bet365 and 7cric, we recommend 7cric as a suitable option for our customers.
We are moving our services to 7cric, a platform known for its exceptional service and comprehensive offerings. 7cric is poised to become the leading betting site in India.
Our decision to recommend 7cric is based on their alignment with our values and their dedication to sports betting and casinos. Their platform is designed to provide our customers with a familiar yet improved experience.
As we wind down our operations in India, we assure you that you are moving to a trusted platform. We encourage you to embrace this new phase, understanding that new beginnings often follow endings. Bet365 is a major British gambling empire founded in 2000 by the Coates family, with offices in Gibraltar, Malta, Bulgaria and Australia. Photograph: Paul Ellis/AFP/Getty Images
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Austrac chief Nicole Rose says financial crime ombudsman is ‘warning the entire industry to step up their game’
The Australian Financial Crimes Enforcement Agency has launched an investigation into gambling companies Sportsbet and Bet365 over allegations they failed to comply with anti-money laundering laws.
The Australian Transaction Reports and Analysis Center (Austrac) announced on Thursday that it has “reasonable grounds to suspect” that Sportsbet and Bet365 have breached or are breaching numerous sections of anti-money laundering and anti-terrorist financing laws.
External auditors will be appointed to investigate suspected non-compliance. Notices were sent to Sportsbet and Hillside (Australia New Media) Pty Ltd, which owns Bet365, on Wednesday.
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Bet365 is a major British gambling empire founded in 2000 by the Coates family, with offices in Gibraltar, Malta, Bulgaria and Australia. Its CEO Denise Coates is one of the richest women in Britain.
Australia’s watchdog said its investigation into both companies included a “comprehensive oversight campaign” to assess corporate speculators.
The law requires betting companies to evaluate customers and monitor their financial transactions to identify, mitigate and manage the risk that they may be involved in money laundering or terrorist financing. Companies are also required to regularly report any identified risks.
Senior management and boards of directors are expected to monitor and regularly review anti-money laundering and anti-terrorist financing compliance processes and programs and, ultimately, any decisions made regarding engagement in high-risk business relationships.
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Austrac chief executive Nicole Rose said in a statement on Thursday that by investigating the two biggest operators in the corporate betting sector, “Austrac is warning the entire industry to up its game.”
“Ultimately, ensuring compliance means protecting the public. Money laundering fuels organized crime and all the harm that comes with it. We need leading businesses to fully comply with the Act so they can understand and mitigate their risks and report suspected crimes, Rose said.
“Austrac will not hesitate to take action where non-compliance is suspected to protect businesses from exploitation and prevent harm to the Australian community.”
This is not the first time Bet365 has come under investigation: in 2016, the Federal Court of Australia ordered Bet365’s parent company Hillside and its UK counterpart to pay a $2.75 million fine for a “free bet” offer that was found to be misleading and deceptive. delusion.
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The new investigation follows an announcement in September that the watchdog was investigating betting company Enten, which owns Ladbrokes.
Failure to comply can result in millions of dollars in fines. In 2017, Austrac fined TabCorp a record $45 million for failing to report more than 100 suspicious activities related to money laundering or credit card fraud. At the time, it was widely reported as the largest civil fine handed down in Australian corporate history. TabCorp admitted that its procedures and oversight were inadequate.
Our morning Australia briefing breaks down the day’s key stories, telling you what’s happening and why it matters.
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In recent months, the gambling industry has come under increasing scrutiny. The federal government unveiled new consumer protection rules Wednesday that will require online gambling companies to use slogans in their advertising that include “The Odds You’ll Lose,” “What Does Gambling Really Cost You?” Think more. Do you really want to make this bet?
In October, an investigation by the NSW Crime Commission found that “large sums of money” were being laundered in pubs and clubs across the state, which “facilitated and promoted crime in the community”.
In September, Australian federal police charged three men in Victoria with money laundering, alleging they laundered about $4.7 million through the Springvale Pokies slot machine by paying patrons cash to sign jackpot checks from poker machine winnings.
Representatives from Sportsbet and Bet365 said in statements to Guardian Australia they were co-operating with Austrac and took their responsibilities under anti-money laundering laws seriously.
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A Sportsbet spokesman said the company had strengthened its compliance measures, including an independent audit, following the 2016-2020 compliance assessment period. “Sportsbet continues to invest heavily in AML compliance and our people, processes and systems,” the spokesperson said.
A Bet365 spokesman said the company “has strict policies and procedures in place to mitigate the risks associated with money laundering and terrorist financing.” It is with a heavy heart that Bet365 announces our immediate departure. Our gratitude to our Indian customers for their continued support over the years is immeasurable. We greatly appreciate your understanding during this transition.
When one chapter ends, a new one begins. We are happy to refer you to 7cric, an online bookmaker that we wholeheartedly support. Dive into their extensive betting offerings, experience a variety of casino games and sports betting, and enjoy the user-friendly interface of their mobile app.
This decision was not made lightly. At Bet365, the trust and support of our Indian customers has always been of paramount importance. We are grateful for the experiences and interactions we have had with our clients over the years.
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We recognize the potential disruption this decision may cause and sincerely apologize for any inconvenience this may cause. Given the match in offers and prices between Bet365 and 7cric, we recommend 7cric as a suitable option for our customers.
We are moving our services to 7cric, a platform known for its exceptional service and comprehensive offerings. 7cric is poised to become the leading betting site in India.
Our decision to recommend 7cric is based on their alignment with our values and their dedication to sports betting and casinos. Their platform is designed to provide our customers with a familiar yet improved experience.
As we wind down our operations in India, we assure you that you are moving to a trusted platform. We encourage you to embrace this new phase, understanding that new beginnings often follow endings. It is with a heavy heart that Bet365 announces our immediate departure. Our gratitude to our Indian customers for their continued support over the years is immeasurable. We greatly appreciate your understanding during this transition.
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When one chapter ends, a new one begins. We are happy to refer you to 7cric, an online bookmaker that we wholeheartedly support. Dive into their extensive betting offerings, experience a variety of casino games and sports betting, and enjoy the user-friendly interface of their mobile app.
This decision was not made lightly. At Bet365, the trust and support of our Indian customers has always been of paramount importance. We are grateful for the experiences and interactions we have had with our clients over the years.
We recognize the potential disruption this decision may cause and sincerely apologize for any inconvenience this may cause. Given the match in offers and prices between Bet365 and 7cric, we recommend 7cric as a suitable option for our customers.
We are moving our services to 7cric, a platform known for its exceptional service and comprehensive offerings. 7cric is poised to become the leading betting site in India.
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Our decision to recommend 7cric is based on their alignment with our values and their dedication to sports betting and casinos. Their platform is designed to provide our customers with a familiar yet improved experience.
As we wind down our operations in India, we assure you that you are moving to a trusted platform. We encourage you to embrace this new phase, understanding that new beginnings often follow endings.
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